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U.S. labelling China a currency manipulator is groundless, China FX regulator

U.S. labelling China a currency manipulator is groundless, China FX regulator
FILE PHOTO: U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration/File Photo/File Photo -
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Petar Kudjundzic(Reuters)
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BEIJING (Reuters) – The United States’ labelling of China as a currency manipulator has no grounds and does not accord with facts, China’s foreign exchange regulator said, the official Xinhua News Agency reported on Wednesday.

The U.S. action will seriously worsen the global economic and trade environment and hurt global growth, said Wang Chunying, spokeswoman for the State Administration of Foreign Exchange.

China will keep its foreign exchange management policies stable and consistent, Wang said.

(Reporting by Beijing Monitoring Desk; editing by Darren Schuettler)

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